Subcontractor Seeks Release From $5.7M Construction Bond

By McCord Pagan (March 15, 2021, 9:04 PM EDT) -- A former subcontractor on a Hawaii highway construction project sued a Tokio Marine unit in that state's federal court over a $5.65 million performance bond, saying the contractor involved missed its window to try and enforce the instrument.

South Carolina-based Acadian Steel Inc. sued its surety, American Contractors Indemnity Co., Friday in Hawaii federal court in response to a demand made under the bond by the contractor on the project, Nan Inc., which is not a defendant in the suit.

Acadian said the 25-month time frame in which the bond could've been enforced closed late last year and that an effort...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!